Cryptocurrency dealer Justin Bennett is revealing the place he sees Bitcoin (BTC), Ethereum (ETH) and two altcoins heading within the coming days and weeks.
Starting with Bitcoin, Bennett tells his 7,820 YouTube subscribers that the primary resistance degree the flagship cryptocurrency will come up in opposition to if it retains going up is at $45,600.
According to Bennett, if the $45,600 resistance degree turns into a assist space, then Bitcoin might rally to above $50,000.
Bennett says that if a “more bullish scenario” is realized, Bitcoin might surge by over 35% from present ranges later within the 12 months.
“If we were to see Bitcoin get above $45,600, test $53,000 or even $50,000 up here then that could very well set up an inverse head and shoulders where we get a move up above $60,000 later this year.”
The cryptocurrency analyst and dealer says he’s bullish on Bitcoin so long as the price stays “above that $40,000 to $42,000 area.”
Bitcoin is buying and selling at $43,809 on the time of writing.
Turning to Ethereum, Bennett says that the present resistance degree for the second-largest cryptocurrency by market cap is round $3,170 whereas the subsequent one is round $3,600.
“Any rotation into $3,170 should trigger a bounce, it should attract buyers. Now the next resistance area to watch for Ethereum is going to be right around $3,600.”
According to Bennett, Ethereum will want to shut above the $4,000 price on the weekly chart to affirm a bullish development.
“Now $4,000 goes to be the massive take a look at for Ethereum…
It’s going to have to get again above this space [$4,000] so as to flip bullish once more.”
Ethereum is buying and selling at $3,358 on the time of writing.
Next up is CRO, the native token of the Crypto.com blockchain, a cryptocurrency platform that gives a broad vary of client companies and merchandise together with funds, a crypto trade, a crypto pockets, debit playing cards and decentralized finance.
Bennett says that for CRO to flip bullish within the brief time period, it has to break above the $0.50 resistance degree on the each day chart first.
“So CRO has to get again above $0.50. So this creates a confluence of resistance proper between possibly $0.50 and $0.53 to the place CRO has to get again above this on a each day closing foundation to flip it again to assist and additionally expose $0.65.
So $0.65 could be the subsequent resistance degree above that $0.50 to $0.53 space…
The market has to get above $0.50 to $0.53 to flip bullish once more up in the direction of $0.65.
If we do see a rotation decrease from this space [around $0.48], regulate that $0.40 assist.”
CRO is buying and selling at $0.486 on the time of writing.
Next up is VET, the native token of VeChain, an enterprise provide chain administration blockchain.
Bennett says that VET might rally to $0.12 however breaking under $0.065 might imply the start of a bearish development.
“VET nonetheless has to get again above this space proper round $0.088. Now if it have been to shut above this [$0.088], there’s an opportunity we might see a transfer up right here towards $0.10, that’s going to be the subsequent key degree…
Above this space proper round $0.09 we most likely see $0.10. Above that’s the area simply above $0.12…
The must-hold for VET goes to be proper round $0.06 to $0.065. We need to see that space maintain out on a each day and weekly closing foundation. Anything under this [$0.06], issues might get ugly.”
VET is buying and selling at $0.082 on the time of writing.
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